The fundamental planning process consists of six steps
1) Setting the organizational objectives
2) Forecasting
3) Analyzing and reviewing the alternative course of action
4) Evaluating the best course of action
5) Choosing the best course of action
6) Implementation
A strategic plan can be defined as the overall plan of an organization on how they are going to align the internal strengths and weaknesses with the external threat and opportunities so as to maintain the competitive advantage.
Strategic management is all about identifying and carrying out the organization's defined strategic plan by aligning the company's competency and weakness with the demands of the environment.
Human resource has to be equipped in order to achieve this strategic goal of the organization. Strategic human resource management aims in formulating and implementing human resource practices and policies which will result in employee competencies required for achieving the strategic objective
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